A medium-size general contractor listed on the first section of the Tokyo Stock Exchange effectively went bankrupt July 4 due to real estate-related debts that inflated after the burst of the bubble economy in the early 1990s.

Tokyo-based Tokai Kogyo Co., beset with liabilities of about 510 billion yen, applied to the Tokyo District Court on July 4 for application of the Company Rehabilitation Law, according to Teikoku Data Bank, a private research company. Tokai Kogyo is the first listed general contractor to go bankrupt since the end of World War II, Teikoku Data Bank said.

Unable to view this article?

This could be due to a conflict with your ad-blocking or security software.

Please add japantimes.co.jp and piano.io to your list of allowed sites.

If this does not resolve the issue or you are unable to add the domains to your allowlist, please see out this support page.

We humbly apologize for the inconvenience.

In a time of both misinformation and too much information, quality journalism is more crucial than ever.
By subscribing, you can help us get the story right.